Elite

Simply

Chainlink

Cosmos

Divergence

<p>In contrast to Chainlink’s ($LINK) price correction in June, where whale transactions and holdings surged despite falling prices, recent data reveals a different trend, according to data from <a href="https://twitter.com/ali_charts/status/1697383607189315879?t=7_CSregndWCCH-hmpwhmtg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Ali</a>. Notably, whale transactions have declined while their holdings remain stable.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="491" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-1024x491.png" alt="" class="wp-image-326317" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-1024x491.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-300x144.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-768x368.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-1536x736.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-2048x982.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-313x150.png 313w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-100x48.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-730x350.png 730w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1-788x377.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-1.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p>This should sound alarms for market participants. A decrease in whale transactions while holdings remain steady could indicate waning interest or confidence among major stakeholders.</p> 
<p><strong>Critical Price Levels</strong>: If Chainlink’s price breaches the critical $5 support level, the market should brace for a possible correction to $4 or even $3. This would signal a sharp decline, severely affecting short-term investor sentiment.</p> 
<h2 class="wp-block-heading" id="exchange-supply-and-bullish-divergence">Exchange Supply and Bullish Divergence</h2> 
<p>On a brighter note according to Santiment, Chainlink has <a href="https://twitter.com/santimentfeed/status/1697373702365807072?t=BfjLRlQrnoWZz-4REB3oCQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">reached</a> a significant level that has traditionally acted as a precursor to a price rebound. Assuming Bitcoin and the broader cryptocurrency sector maintain relative stability, Chainlink’s dwindling exchange supply—currently just 15.5%—hints at a bullish divergence.</p> 
<p>In simpler terms, when the available exchange supply of a cryptocurrency diminishes while its price remains stable or falls, it often suggests a scarcity-induced price hike could be on the horizon.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="654" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-1024x654.png" alt="" class="wp-image-326325" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-1024x654.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-300x191.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-768x490.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-1536x980.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-2048x1307.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-235x150.png 235w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-548x350.png 548w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2-788x502.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-2.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<p>Technical analyses also show Chainlink forming a slow downtrend with lower highs (HH) and lower lows (LL). While this might sound bleak, these trends often serve as precursors to a market reversal. It might just be a matter of time before Chainlink begins to ascend, especially given its fundamentally robust framework.</p> 
<p>From a personal investment standpoint according to <a href="https://twitter.com/TheEliteCrypto/status/1696898262932787264" target="_blank" rel="noopener noreferrer nofollow">Elite Crypto</a>, Chainlink priced below $6 appears to offer an attractive entry point for long-term positions. The project is fundamentally one of the strongest in the decentralized oracle space, providing essential data feeds for smart contracts across various blockchains.</p> 
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<p>Given its fundamental strengths and current market signals, building a more considerable position at this price level for the long term seems to be a prudent strategy.</p> 
<p><strong>In summary, Chainlink’s current market dynamics present a complex but intriguing picture.</strong> While there are red flags, particularly in the behavior of large holders, there are also significant indicators pointing toward future price resilience and potential growth. As always in the volatile crypto market, caution and due diligence are key.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/chainlink-link-investors-in-shock-as-whales-abandon-ship-mid-crash-but-heres-why-you-should-buy-the-dip/">Chainlink (LINK) Investors In Shock As Whales Abandon Ship Mid-Crash, But Here’s Why You Should Buy The Dip</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink (LINK) Investors In Shock As Whales Abandon Ship Mid-Crash, But Here’s Why You Should Buy The Dip

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